SwingSpot-reloaded! (SwingSpot-Reloaded!) - MT4/MT5 Resources
I had put this strategy aside a few months ago because I was still working on my Synergy CRS strategy and because I had been thinking about how best to profit from it. Now that I've completed the Synergy CRS strategy, I decided to revisit it.
I used the SwingSpot indicator along with several other indicators in the original SwingSpot Progression thread, but this became too confusing and became overly complex. This indicator was originally based on a redraw of the ZigZag indicator, which was used by people to "try" to find highs and lows on a chart. The SwingSpot indicator (ZigZag) is known to be severely flawed as it repaints heavily and redraws its arrows every time a new high or low occurs. Obviously, most experienced traders wouldn't touch it with a 10-foot pole, but then I started thinking about it, and a few weeks later, it hit me. So I had a friend recode the code so that at the end of the candle, when each new high or low comes, it would permanently leave the previous arrow on the chart, and I had him change the arrows to boxes so it looked a little cleaner.
As I stared blankly at it over and over for weeks, after a few boxes I began to realize that, as the market does (like clockwork), we were going to see a strong correction in price. I then thought that if we used a milder progressive lot sequence that increases slightly as we add more boxes, we could basically turn it into a trading "basket" where we could write an EA to trade and then monitor the overall profitability of the entire "basket". Once the assets in the "basket" reach a certain amount, the EA will immediately close all trades. I already have an EA that pretty much does what I need it to do except it waits for the opposite color box to end the trade, but that's just a start. If anyone wants to try redesigning it, I'll post it here for you.
Another option is to have certain "trade sets" and assign a percentage to them, and if 80% of the trades in the basket are positive, we will close the basket (actually, we only need about 50% of the basket to be profitable and we will make money). I'm still mulling over the charts to determine the number of trades in each group, and the best way to close them based on the number of trades in each group.
I've attached a few pictures of the indicators on the chart. As you can see in Figure 1, you can see a series of boxes followed by a correction. Just in case you are wondering, this is not a hand picked chart as I could list almost any chart and you could see the same reaction for any currency pair. Most of the time, the correction will exceed the entire box string, or we may only be able to capture a large portion of the string. For example, looking at the last sequence of 13 boxes in the Figure 1 chart, if the first trade started with 0.1 lots and we gradually increased it to 1.3 lots (adding 0.1 lots to each new box), we would easily make a profit because all the larger trades below that particular correction point would mask the smaller trades above that correction point. In Figure #2 are some short "basket" examples for October, all with profit potential!
My initial idea was to enter progressively larger lot sizes in each box, then close all trades when the opposite colored box appears, and use it on a higher timeframe (e.g. daily chart) and trade with positive swaps. I quickly discovered that my idea was wrong after some sequences went through 40, 50, and even 60 or more boxes without seeing a contrary signal, so I gave up on the project until now. I hope we all dig into this, because I almost think this could be as good, if not better, than my collaborative strategy.
I attached the zigzag indicator (which I modified and called SwingSpot Conservative) as well as an indicator called i-breakeven that monitors the total equity of all open trades on the chart. Maybe it can provide us with some code that can be inserted into the new EA code. I also posted the EA mentioned above that trades on opposite signals and closes them, so if anyone else wants to use the code used in this EA to see if it can be modified, that's yours. Just a warning, I've noticed that if you scroll back on the chart, the SwingSpot indicator gets a little cluttered, showing boxes all over the place. If you have saved the chart template, reload the template to fix the chart. I'm not a coder so I don't know how to clean up the code to make it work smoother. Hopefully someone can step forward and figure out why this is so difficult.
I used the SwingSpot indicator along with several other indicators in the original SwingSpot Progression thread, but this became too confusing and became overly complex. This indicator was originally based on a redraw of the ZigZag indicator, which was used by people to "try" to find highs and lows on a chart. The SwingSpot indicator (ZigZag) is known to be severely flawed as it repaints heavily and redraws its arrows every time a new high or low occurs. Obviously, most experienced traders wouldn't touch it with a 10-foot pole, but then I started thinking about it, and a few weeks later, it hit me. So I had a friend recode the code so that at the end of the candle, when each new high or low comes, it would permanently leave the previous arrow on the chart, and I had him change the arrows to boxes so it looked a little cleaner.
As I stared blankly at it over and over for weeks, after a few boxes I began to realize that, as the market does (like clockwork), we were going to see a strong correction in price. I then thought that if we used a milder progressive lot sequence that increases slightly as we add more boxes, we could basically turn it into a trading "basket" where we could write an EA to trade and then monitor the overall profitability of the entire "basket". Once the assets in the "basket" reach a certain amount, the EA will immediately close all trades. I already have an EA that pretty much does what I need it to do except it waits for the opposite color box to end the trade, but that's just a start. If anyone wants to try redesigning it, I'll post it here for you.
Another option is to have certain "trade sets" and assign a percentage to them, and if 80% of the trades in the basket are positive, we will close the basket (actually, we only need about 50% of the basket to be profitable and we will make money). I'm still mulling over the charts to determine the number of trades in each group, and the best way to close them based on the number of trades in each group.
I've attached a few pictures of the indicators on the chart. As you can see in Figure 1, you can see a series of boxes followed by a correction. Just in case you are wondering, this is not a hand picked chart as I could list almost any chart and you could see the same reaction for any currency pair. Most of the time, the correction will exceed the entire box string, or we may only be able to capture a large portion of the string. For example, looking at the last sequence of 13 boxes in the Figure 1 chart, if the first trade started with 0.1 lots and we gradually increased it to 1.3 lots (adding 0.1 lots to each new box), we would easily make a profit because all the larger trades below that particular correction point would mask the smaller trades above that correction point. In Figure #2 are some short "basket" examples for October, all with profit potential!
My initial idea was to enter progressively larger lot sizes in each box, then close all trades when the opposite colored box appears, and use it on a higher timeframe (e.g. daily chart) and trade with positive swaps. I quickly discovered that my idea was wrong after some sequences went through 40, 50, and even 60 or more boxes without seeing a contrary signal, so I gave up on the project until now. I hope we all dig into this, because I almost think this could be as good, if not better, than my collaborative strategy.
I attached the zigzag indicator (which I modified and called SwingSpot Conservative) as well as an indicator called i-breakeven that monitors the total equity of all open trades on the chart. Maybe it can provide us with some code that can be inserted into the new EA code. I also posted the EA mentioned above that trades on opposite signals and closes them, so if anyone else wants to use the code used in this EA to see if it can be modified, that's yours. Just a warning, I've noticed that if you scroll back on the chart, the SwingSpot indicator gets a little cluttered, showing boxes all over the place. If you have saved the chart template, reload the template to fix the chart. I'm not a coder so I don't know how to clean up the code to make it work smoother. Hopefully someone can step forward and figure out why this is so difficult.
***I would really like to try and focus on an exit strategy using a basket equity factor or a percentage based exit. Don't put a dozen worthless indicators on your chart trying to find different ways to enter. This didn't work before and probably won't work now, so please don't do it unless it's on your own time. Let's keep the discussion civil and constructive. If anyone thinks this method is bad, or wants to stop and leave a negative comment, please turn right and visit other people's posts, negativity is not needed here, period !!!!. ***
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*** I've updated article 1 with the SwingSpot Reloaded indicator and the Swing Exit indicator. The SwingSpot Reloaded indicator is now a modified Semaphor indicator that is more stable when scrolling the chart backwards. We also adjusted the Swing exit settings to 36-15-9 for faster exit. i-Breakeven lets you know at what point your basket will reach breakeven. Currently working on EA, I will update post #1*** when completed
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